12 CFR 270.3

§ 270.3 Governing principles.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 270.3, § 270.3 Governing principles, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/45850
Permanent ID: ys:prov:45850@1
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Full text

As required by section 12A of the Federal Reserve Act, the time, character, and volume of all purchases and sales of obligations in the open market by Federal Reserve banks are governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.